A crypto trader recently turned a $96 investment into an astonishing $3 million profit. According to blockchain analysis platform Lookonchain, this investor achieved an incredible 32,000x return by trading TRUMP tokens—a meme coin linked to former U.S. President Donald Trump.
Read more about it below.
The Lookonchain report shows that the trader started by investing 0.052 ETH (worth $96) to buy 608,650 TRUMP tokens on August 12, 2023. At that time, TRUMP tokens had just been listed on several exchanges and were trading at $0.0193. The token’s rise came as interest grew around the U.S. election and Trump’s involvement in the memecoin scene, driving investor excitement.
Now, with TRUMP tokens trading around $5.30, the trader has started to cash out. Within the last six hours, he sold about 6,000 tokens, earning 11.4 ETH, or roughly $30,000.
What’s even more striking is that he still holds a large portion—594,564 TRUMP tokens—worth over $3 million. This impressive gain highlights the power of meme coins in the crypto market, where timing and market trends can turn small investments into massive profits.
TRUMP tokens are part of a trend of meme coins that gain popularity based on social media buzz, internet culture, and speculative trading, rather than solid fundamentals or specific use cases. Their prices often swing with market sentiment, making them high-risk but potentially very rewarding.
The trader’s decision to buy TRUMP tokens at a low price and sell as the market surged shows how crucial timing can be in crypto investments. This case illustrates how quickly fortunes can be made when the right opportunities arise.
In a market driven by hype, this trader’s story is a reminder of the significant potential—and risks—that come with investing in meme coins.
Would you take a chance on meme coins, or is it too risky for your taste? Drop your thoughts.
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